TimesTalks: Paul Krugman: Understanding the Stimulus Package

[thesparitan]

It seems that people who hate Paul Krugman hate him because they hate intellectuals in general. I find they often don't even understand his opinions and theories, they just hate him. Kind of sad because he actually a very good thinker that should be listened to.

[00dfm00]

Krugman has such a superficial understanding of economics it blows my mind to think he was given a Nobel. No mention of higher taxes, no mention of the capital goods production cycle, no mention that while retail may shrink, production areas remote from the consumer are looking at hiring... If Krugman is so confident with his ideas, he should stake his Nobel on it.

[fdutjklr]

@00dfm00 Sorry, but a PhD from MIT doesn't give you a superficial understanding of Economics. There is just not enough time in the day to go into that with the public.

[Theycallmetomu]

@00dfm00 You think he wouldn't? That if people actually listened to him and he turned out to be wrong, that he wouldn't be happy to give up his nobel?

[ProsecuteCheneyEtAl]

The notion that government regulation of the economy is bad is a theory. It has been tested and it always fails.

People who maintain a theory that has been falsified over and over again are driven by some other force than rationality.

[thesparitan]

@ProsecuteCheneyEtAl Well said.

[darebear42]

"The government can provide the spending power to bridge you across this period when the economy is in deep trouble."

Lol, that's our government, always building bridges to nowhere.

[Incrue]

Any doubt that nobel prize is driven by politics?

[chewbaca1989]

Second that, all the Keynisian economist douche bags didn't see it coming and how the hell

Babbling fools the lot of them.

The Austrian economists predicted all of this and none are in any potions of influence. Yup, Nobel prize is political .

Is he looking more frazzled?

[jk148706]

Rising savings rates are a hit to the economy? Krugman is at it again.  Doesn't he understand that REAL investment comes from savings? Savings is the pool from which banks can lend. Printing money out of thin air does not create wealth. It only distorts the economy and leads to an inevitable adjustment. Krugman's theory is that everyone is better off if no one has any money in the bank. That doesn't make sense in my world.

[pinochet222]

supply side, you fucking moron?? what investment? nobody's buying shit, dumb scum!

[TheRougeEyelash]

So why aren't they lending? Perhaps the banks will wake up and lend us a dime someday. And don't pretend to know what his "theory" is. Its best when money flows.

[TheMusicismath]

one more, people are not starting to save. One thing you leave out in your promotion of another stimulus is the 9.5% unemployment rate. Consumption is down as a result of high unemployment. Nobody can buy houses because they couldn't afford them in the first place. The only thing increasing the money supply will do is cause the same scenerio of 09/08. The gov't doesn't produce anything. Gov't spending means people work, taxes go to gov't and people will pay govt to spend their $ for them.

[TheMusicismath]

very twisted logic. The point of living a good life is to consume. Not have other people consume for you. Your own consumption is what the pay off to working is all about. Another stimulus won't work just like the last one didn't. China russia and india are talking about a new reserve currency. Part of the reason are economy is so bad right now is because it is extremly over stimulated. Another stimulus is a guarantee to the dollar being replaced. The Fed will be our only lender.

[4sureJT]

What an IDIOT.

[1000connor]

cool